Welcome to our dedicated page for Argo Group Intl news (Ticker: ARGO), a resource for investors and traders seeking the latest updates and insights on Argo Group Intl stock.
Argo Group International Holdings, Inc. (“Argo”) is an underwriter of specialty insurance products in the property and casualty market. Company news releases describe Argo as focusing on business customers, with a U.S.-focused specialty property and casualty strategy and a surety business that has been the subject of dedicated leadership appointments and partnerships.
The ARGO news feed on Stock Titan aggregates company-issued announcements and market disclosures that explain how Argo’s specialty insurance operations are evolving. These items include quarterly and annual financial results, where Argo reports on gross written premiums, net written premiums, earned premiums, loss ratios, expense ratios, combined ratios, catastrophe losses, and reserve development. Such releases provide insight into underwriting performance, the impact of catastrophe events, and the effect of business exits and disposals on international and U.S. operations.
News coverage also reflects major corporate events. A Business Wire release dated November 16, 2023, reports the completion of Brookfield Reinsurance’s all-cash acquisition of Argo and notes that Argo’s common shares ceased trading on the New York Stock Exchange. Subsequent announcements describe leadership changes, including appointments to the chief executive officer and chief financial officer roles, and highlight Argo’s positioning as a U.S.-focused specialty property and casualty company within its new ownership structure.
In addition, Argo has issued releases on strategic initiatives such as its partnership with Trisura Group to support surety underwriting operations and its later announcement of the full redemption and planned delisting of its Series A preferred stock depositary shares and Argo Group US, Inc.’s 6.500% Senior Notes due 2042. For investors and observers, following ARGO news offers a view into Argo’s financial performance, capital structure changes, ratings disclosures, and strategic direction as part of the Brookfield-related insurance platform.
Argo Group International Holdings, Ltd. (NYSE: ARGO) has declared a quarterly cash dividend of $0.31 per share on its common stock. This dividend will be paid on June 4, 2021, to shareholders recorded on May 21, 2021. Argo specializes in underwriting specialty insurance products within the property and casualty market, providing tailored coverage solutions through its U.S. and International Operations. The company holds an 'A-' rating from Standard & Poor’s and A.M. Best.
Argo Group International Holdings reported a strong financial performance for Q1 2021, achieving a net income of $27.2 million or $0.78 per diluted share, reversing a net loss of $24.7 million in Q1 2020. Operating income also improved to $15.5 million or $0.44 per diluted share. The company noted an improved combined ratio of 93.4%, the best since 2016, indicating better underwriting results. Despite elevated catastrophe losses, Argo is optimistic about reducing property exposure before the U.S. wind season.
Argo Group International Holdings (NYSE: ARGO) announced that its first-quarter results will reflect significant losses estimated at $47 million due to catastrophes. Of this, $43 million is related to natural catastrophes, primarily Winter Storm Uri, with about half of these losses originating from International Operations. Additionally, the company expects a net loss of $4 million linked to COVID-19 pandemic impacts on its International Operations. These estimates are pre-tax and may differ from actual results.
Argo Group International Holdings, Ltd. (NYSE: ARGO) announced a shift to a virtual format for its 2021 Annual General Meeting due to rising COVID-19 cases in Bermuda and a mandatory stay-at-home order. The meeting is scheduled for Thursday, May 6, 2021, at noon local Bermuda time (11:00 a.m. Eastern Time) and is accessible via www.virtualshareholdermeeting.com/ARGO2021. Shareholders as of March 15, 2021, can participate using the 16-digit control number from their proxy materials.
Argo Group International Holdings, Ltd. (NYSE: ARGO) will release its 2021 first-quarter financial results after U.S. market close on May 3, 2021. Management will host an investor conference call on May 4, 2021, at 10 a.m. EST, accessible via a live webcast or through specific phone lines for U.S. and international participants. Argo is a specialty insurance underwriter, rated ‘A-’ by both Standard & Poor’s and A.M. Best, catering to property and casualty markets.
Argo Group International Holdings (NYSE: ARGO) announced the immediate retirements of board members Kathleen Nealon and John Tonelli, effective after the Annual General Meeting on May 6, 2021. This will reduce the board size to 9 directors. Non-Executive Chairman Thomas A. Bradley expressed gratitude for their contributions to the company's growth into a stronger, U.S.-focused specialty insurer. Nealon has been on the board since 2011, while Tonelli joined in 2010, contributing notably in various committees.
AM Best has revised the outlook for Argo Group International Holdings (ARGO) to stable from negative, affirming its Financial Strength Rating of A- (Excellent) and Long-Term Issuer Credit Ratings of 'bbb-'. This change follows improvements in the company's balance sheet strength and operating performance. Key developments include addressing a prior SEC inquiry, leadership changes, and exiting non-profitable businesses. Despite some internal control weaknesses, the overall outlook remains positive with expectations for continued improvement in capital adequacy and underwriting margins.
Argo Group reported a Q4 2020 net loss of $19.7 million, or $(0.57) per diluted share, a notable reduction from a loss of $103.3 million in Q4 2019. The company achieved a gross written premium of $717.6 million, a 0.7% increase year-over-year. The loss ratio improved to 69.9%, down from 84.4% in the previous year, reflecting better pricing and loss control. Despite challenges such as $51 million in catastrophe losses, Argo expects positive growth in 2021 driven by favorable market conditions and strategic initiatives.
Argo Group International Holdings declared a quarterly cash dividend of $0.31 per share on its common stock. This dividend will be distributed on March 12, 2021, to shareholders of record as of February 26, 2021. Argo Group operates in the specialty insurance market, focusing on property and casualty products, with services divided into U.S. and International Operations. Its insurance subsidiaries maintain an A- rating from Standard & Poor’s and A.M. Best, underscoring its financial stability.
Argo Group International Holdings, Ltd. (NYSE: ARGO) will hold an Investor Update Meeting on March 12 at 10 a.m. EST. CEO Kevin Rehnberg and the executive leadership team will present the company’s strategy and participate in a Q&A session. The meeting aims to provide comprehensive insights for investors. Argo is a specialty insurance underwriter, rated 'A-' by Standard & Poor’s and A.M. Best. For further details, attendees can visit www.argolimited.com/investors.